Download Request Slip for exchange of Old Bank Notes. Up to 30-12-2016 old notes of 500 and 2000 can be deposited or exchanged from banks

Download Request Slip for exchange of Old Bank Notes. Up to 30-12-2016 old notes of 500 and 2000 can be deposited or exchanged from banks

After the withdrawal of old bank notes of Rs. 500 and Rs. 2000/-, the persons have the option of either

(a) depositing such old notes into their bank accounts or
(b) exchanging such notes.

RBI has issued circular clarifying that all Bank branches will be the primary agencies through which the members of public and other entities will be exchanging the Specified Bank Notes for Bank Notes in other valid denominations or depositing the Specified Bank Notes for crediting to their accounts, upto and including the December 30, 2016

Facility for Exchange of old bank notes of Rs. 500 and 2000.
The old bank notes held by a person may be exchanged at:

• any Issue Office of the Reserve Bank or
• any branch of public sector banks,
• private sector banks,
• foreign banks,
• Regional Rural Banks,
• Urban Cooperative Banks and State Cooperative Banks

The bank notes can be exchanged for a period up to and including the 30th December, 2016, subject to the following conditions, namely:—

(i) the old bank notes of aggregate value of Rs. 4,000/- or below may be exchanged for any denomination of bank notes having legal tender character, with a requisition slip in the format specified by the Reserve Bank and proof of identity; the limit of Rs. 4,000/- for exchanging old  bank notes shall be reviewed after fifteen days from the date of commencement of this notification and appropriate orders may be issued, where necessary;

(ii) there shall not be any limit on the quantity or value of the old bank notes to be credited to the account maintained with the bank by a person, where the old  bank notes are tendered; however, where compliance with extant Know Your Customer (KYC) norms is not complete in an account, the maximum value of old  bank notes as may be deposited shall be Rs. 50,000/-;

(iii) The equivalent value of old bank notes tendered may be credited to an account maintained by the tenderer at any bank in accordance with standard banking procedure and on production of valid proof of Identity;

(iv) The equivalent value of old bank notes tendered may be credited to a third party account, provided specific authorisation therefor accorded by the third party is presented to the bank, following standard banking procedure and on production of valid proof of identity of the person actually tendering.

(v) Cash withdrawal from a bank account over the counter shall be restricted to Rs. 10,000/- per day subject to an overall limit of Rs. 20,000/- a week from the date of the notification until the end of business hours on 24th November, 2016, after which these limits shall be reviewed;

(vii) there shall be no restriction on the use of any non-cash method of operating the account of a person including cheques, demand drafts, credit or debit cards, mobile wallets and electronic fund transfer mechanisms or the like;

(viii) Withdrawal from Automatic Teller Machines (hereinafter referred to as ATMs) shall be restricted to Rs. 2,000 per day per card up to 18th November, 2016 and the limit shall be raised to Rs. 4,000 per day per card from 19th November, 2016;

(ix) Any person who is unable to exchange or deposit the specified bank notes in their bank accounts on or before the 30th December, 2016, shall be given an opportunity to do so at specified offices of the Reserve Bank or such other facility until a later date as may be specified by it.

(x) Business Correspondents (BCs) may also be allowed to exchange Specified Bank Notes upto Rs. 4000/- per person as in the case of bank branches, against valid identity proof and requisition slip. For this purpose banks may, at their discretion, enhance the cash holding limits of BCs at least till December 30, 2016.

(xi) While crediting the value of old Bank Notes to Jan Dhan Yojna Accounts, the usual limits of deposit in such account will apply mutatis mutandis.

The format of Request Slip for exchange of Old Bank Notes in denominations of Rs. 500/- and Rs. 1000/- is as under:

Download The MS word format of Request Slip for exchange of Old Bank Notes Click Here >>